This is Turov on Timing for Thursday, December 10, 2009.
The Standard & Poor’s 500 Index (“SPX”) advanced 4 points yesterday to close at 1095.94. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11180.75 cumulative SPX points, compared to a gain of 637.01 points in the index itself over the same period. That’s a ratio of 17.55 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000). I expect that the bear market will resume in earnest in 2010, leading to a possible end to that decade long perspective at lower prices in 2011 or 2012. But we’re certainly not at that point yet.
The Intermediate Term Model remains bearish, but not by much. There’s a pretty good chance that the Model will reverse itself within a week.
I expect to see the market move lower in the early going and then advance later in the session. TOT daily traders are advised to go 300% short at SPX 1094 stop or at SPX 1099 limit, whichever comes first. If and when you go short, use a 10 point protective buy stop on the position. If you have not taken your position within the first 30 minutes of the trading session, consider the recommendation cancelled.
Thanks for the opportunity to be of service, and I’ll email you again between 10:45 and 11:00 a.m. – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2009 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. All caveats and advisories that appear in the monthly Turov on Timing apply equally to this email. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc.